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Third Quarter Personal Income
Mon December 19, 2011
Incomes Grow Slightly Over the Summer
Personal income rose by just 2 tenths of a percent in the state. The latest figures from the Commerce Department reflect an economy that nearly stalled over the summer. In the first half of the year, personal incomes climbed much faster, over 2 percent in the winter. Still, New Hampshire fared better than most states. In places like Delaware, Rhode Island and Florida, personal incomes declined.
In the Granite state, earnings in the health care industry accounted for more than half of all the growth. On the flip side, the information sector delivered the largest losses, followed by smaller state and local government payrolls.
In pure dollar amounts, a drop in unemployment benefits and other payments from government programs reduced incomes overall by about 48 million dollars.
Nationwide, New Hampshire ranked 16th. Massachusetts ranked 14th.